At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 500,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.
About the job:
Municipal Credit Union is currently seeking a Post-Closer. A Post-Closer reviews loan documents for compliance and accuracy. They prepare files, obtain any missing information and prepare the closing package for Quality Control Review. Assist in retrieving documentation for audits and examinations, as well as, curing deficiencies.
What you’ll be responsible for:
- Track receipt of executed closing packages from Credit Union attorneys for all loans that have closed/fundedContact attorneys for any packages not received within 3 business days of funding
- Maintains the Post Closing Calendar in accordance with the Closing Calendar, validates the scheduled closings and coordinates post-closing reviews
- Perform daily post-closing review of closed loan packages to determine completeness and accuracy.
- Perform legal review/analysis using checklists to ensure completeness and compliance, including title report review, mortgage payoff information, proposed assignment (if any), Closing Disclosures, CEMA and home owners’/flood insurance information and endorsements, as well as, document expiration
- Perform review
- Reviews approved mortgage loan approval to determine conditions of closing have been satisfied and reviewed by underwriting.
- Reviews title work, tax information, and insurance along with lock information to verify supplied information is consistent with loan approval
- Review the Closing Disclosure from attorney, title company and/or settlement agent for accuracy to ensure regulatory compliance, as well as, identify any cures to be resolved within compliance time frames
- Review disbursement information to ensure wire to the settlement agent was accurate
- Tracks receipt of checks to payoff MCU loans and ensures the timely hand-off to appropriate servicing unit
- Provides request for automated payment set up to mortgage loan servicing
- Maintain clear and accurate documentation on progress and disposition of loan files.
- Prepare closing worksheet and complete post-closing review of assigned files. Ensure that all underwriting, pre-closing and closing conditions are satisfied
- Review age and expiration of documentation identifying any deficiencies
- Work with mortgage originations, mortgage operations and closing agents to obtain missing documents.
- Work with settlement companies to obtain any missing or incomplete packages/documents.
- Partner with the Processor and Underwriter to ensure the accuracy of the HMDA data and assist with HMDA reporting and corrections as directed by Management.
- Review appraisal report to ensure licensing and insurance are current
- Identify properties in special flood hazard areas and check file for adequate flood insurance coverage
- Review homeowner’s insurance requirements to ensure guidelines have been met
- Track receipt of final title policy and review to ensure accuracy
- Track receipt of recorded mortgages, CEMA’s,etc
- Maintain a high level of expertise relative to all mortgage loan documentation required to satisfy post-closing deficiencies including but not limited to disclosures, documents, appraisals, income and asset statements and TRID
- Regularly update a working knowledge of federal and state mandated consumer disclosure requirements and regulations. Requirements (including, but not limited to, such as the Loan Estimate & Closing Disclosure; the Mortgage Servicing Disclosure Statement, Notice of Availability of Flood Insurance) and remain alert to consumer disclosure issues that arise during loan closing. Compare LE and CD and determine if anything needs to be cured within regulatory timeframes, ensuring cure amounts are issued to appropriate parties with regulated time frames
- Perform legal review/analysis of Home Equity loans/lines using checklists to ensure completeness and compliance, including property report review, Closing Disclosures, CEMA and home owners’/flood insurance information and endorsements,
- Work with the Home Equity unit to obtain missing documents.
- Track receipt of recorded mortgages for Home Equity Loans and Lines
- Track receipt of executed closing packages from Credit Union attorneys for all loans that have closed/funded
- Establishes and maintains a thorough knowledge of all products and investor requirements to ensure quality closing packages and salability into the market.
- Assist with QC and Compliance audits related to closings and answer to findings as requested.
- Ensure that any identified compliance issues have been addressed per the guidance provided and update the Compliance review.
- Prepares all required reports.
- Communicates deficiencies to manager when identified
- Prepares report of all documentation, legal and underwriting deficiencies and provides scheduled reports to management
- Prepares monthly report card for closing attorney performance and participates in monthly standing
- Develop monthly reporting to identify deficiencies and trends and communicate to management
- Enters all information into LOS and tracking mechanisms and verifies information in system is correct and accurate and that files have been reviewed and completed
- Assist in Training New Staff
- Using deficiency reporting as a tool for on-going training
- Assist with home equity/HELOC closings as needed.
- Assist with maintaining all related written procedures in accordance with established bank standards and regulations.
- Keep well informed of revisions and additions to state and federal regulations, investor servicing requirements and Bank policy.
- Assist management on special projects and perform other servicing related duties as assigned.
- Assist with training new employees.
- Serve as a subject matter expert for the closers and feedback utilized for training purposes of closers
- Participate in system and procedure testing
- Perform other related duties and participate in special projects as assigned.
What you’ll bring:
- Bachelor’s degree with 2 years’ experience or Associate’s degree, plus 3 years of responsible experience or 7 years performing mortgage servicing functions in a medium to large sized organization.
- Ability to work in a fast-paced environment while interacting with loan officers, loan processors and management.
- Ability to demonstrate knowledge of real estate lending practices including federal and state regulations as well as related mortgage documentation.
- Strong PC skills, with intermediate knowledge of Microsoft Word, Excel and PowerPoint.
- Strong knowledge of institutional guidelines and the ability to analyze data and make appropriate on the spot decisions.
- Proficient in first and secondary market closing requirements and mortgage terminology.
- Full knowledge and understanding of RESPA, Regulation Z, CFPB, HMDA, TILA, ECOA, FCRA, Fair Lending, title insurance, title reports, notes, mortgages, and related documentation.
- Thorough knowledge of Fannie Mae, FHA, and all other secondary market guidelines.
- Excellent problem solving skills.
- Strong written and verbal communication skills.
- Ability to effectively prioritize tasks and meet deadlines.
- Must be flexible and adaptable in a changing environment.
- Ability to work overtime when required.
- Familiar with DocMagic a plus.
- Self-motivated, ability to communicate within a team to solve issues and drive results, positive attitude
- Requires attention to detail and organizational skills.
Why you’ll be a good fit:
Our Core Values are an integral part of who we are and who we hire. By living our Core Values, every day, we continue to attract the best and brightest talent, achieve unsurpassed results and continuously challenge ourselves to be better than yesterday. These values are at the heart of our organization and within every teammate. To be a great fit, you’ll bring the following:
Results – You’ll look to achieve the best outcomes for our members. Continuously track and measure everything, and use it to always improve. Be proactive, not reactive.
Agility – You’ll remain agile in your decision making, planning, and delivery; using curiosity and creativity to see situations from all perspectives.
Integrity – You’ll act professionally and positively. Build trust, be upfront and communicate thoroughly.
Teamwork – You’ll work to achieve common goals as part of ONE TEAM.
Ownership – You’ll hold yourself and others accountable and remain committed to our obligations while caring about the outcomes as much as an owner would.
Belonging – You’ll embrace and environment in which any individual or group can be and feel welcomed, respected, supported and valued.
We stand by our mission to connect our members and communities with an exceptional financial future and we are looking for individuals who share this same purpose to take this journey with us.
What we can offer you:
Competitive compensation, medical and dental benefits.
401K with employer match
Flexible paid time off
We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home. Diversity of race, thought, sexual orientation, age, veteran status, religion, and disability will empower us to thrive as individuals, as teams, and as an organization.
Municipal Credit Union (MCU) is an Equal Opportunity Employer.
Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.